Macy’s, Inc. (NYSE:M) today announced a series of changes to its senior executive leadership team, effective immediately.
Thomas L. Cole is retiring as Macy’s, Inc.’s chief administrative officer after an exceptional 41-year career with Macy’s, Inc. and its predecessor companies. He will remain with the company through May 2013 to affect a smooth transition to several other executives. His responsibilities have been re-assigned as follows:
- William S. Allen has joined Macy’s, effective today, as chief human resources officer. Allen, a seasoned corporate human resources executive who previously served as senior vice president of AP Moller-Maersk A/S, joins the Macy’s executive committee and reports to Terry J. Lundgren, chairman, president and chief executive officer. Allen will oversee Macy’s, Inc.’s human resources, diversity strategies, and corporate communications and external affairs functions. In addition, Allen will have administrative responsibility for the law function that reports directly to Lundgren.
- Robert B. Harrison, previously Macy’s executive vice president for omnichannel strategy, is assuming the newly-created role of chief omnichannel officer, reporting to Lundgren. He also will join the company’s executive committee. In addition to his existing role managing the development of strategies to closely integrate the company’s stores, online and mobile activities, Harrison will assume responsibility for systems and technology, logistics and related operating functions.
- Karen M. Hoguet, Macy’s, Inc. chief financial officer, will assume additional responsibility for credit and customer services, real estate, non-merchandise purchasing and sustainability. All of the company’s finance and accounting functions report to Hoguet. In addition, she will have administrative responsibility for the internal audit function that reports directly to Lundgren. Hoguet is a member of the Macy’s executive committee and reports to Lundgren.
- Peter Sachse, Macy’s chief stores officer, will assume additional responsibility for store planning, design and construction. The company’s nationwide portfolio of Macy’s stores, as well as the region, district and central stores organization and visual merchandising, continue to report to Sachse. He is a member of the Macy’s executive committee and reports to Lundgren.
“Our company remains on a path of continuous improvement and growth, and the foundation of our success is the strength of talent at every level of our organization,” Lundgren said. “These adjustments to our senior leadership team provide continuity and strengthen our ability to innovate as we work to maximize results in the years ahead from our core business strategies, including My Macy’s localization, omnichannel alignment, and customer engagement.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV